Negative Home Equity Surges to 27%

The number of borrowers who owe more on their mortgages than their homes are worth took a huge leap in Q4 of 2010. A full 27% of borrowers are now “underwater” on their mortgages, up from 23% in the previous quarter, according to a new report from Zillow. Foreclosure moratoriums and falling home prices are to blame. – CNBC